GRUPO TELEVISA, S.A.B. director David Zaslav filed an initial ownership report showing an indirect interest in 55,000 Global Depositary Shares (GDSs) held through a Stock Purchase Plan for directors. These plan‑related GDSs have an exercise price of $0.45 per GDS.
Each GDS corresponds to a financial interest in five CPOs, which in turn represent different series of Televisa shares. At vesting, the plan trust will sell enough GDSs or related CPOs at Ps.8.00 per GDS to pay the purchase price and deliver the remaining GDSs to Zaslav.
GRUPO TELEVISA, S.A.B. director Eduardo Tricio Haro filed an initial ownership report showing significant holdings of CPOs. He reports 149,933,900 CPOs held directly, 62,650,000 CPOs held indirectly in a joint family account, and 277,500 CPOs in a Stock Purchase Plan administered by a trust.
The plan position has an exercise price of about $0.09 per CPO, corresponding to Ps.1.60 using a Ps.17.9437 per US dollar rate. At vesting, the plan trust will sell enough CPOs to pay this price and deliver the remaining CPOs to him. He disclaims beneficial ownership of certain shares beyond his pecuniary interest.
GRUPO TELEVISA, S.A.B. director Enrique Senior has filed an initial Form 3, which is a required report of beneficial ownership for company insiders. This filing does not list any stock transactions or specific holdings; it simply establishes his reporting status as a director.
Grupo Televisa, S.A.B. director Jose Luis Fernandez reported his beneficial ownership of Certificados de Participacion Ordinarios (CPOs). He holds 605,275 CPOs directly and has exposure to an additional 277,500 CPOs through a Stock Purchase Plan for directors.
The plan-related CPOs have an exercise price of $0.09 per CPO, which reflects a price of Ps.1.60 converted using a 17.9437 Mexican peso per U.S. dollar rate as of March 13, 2026. At vesting, a trust administering the plan will sell enough CPOs to pay this price and deliver the remaining CPOs to Fernandez.
Grupo Televisa director Jon Feltheimer reported his initial ownership of Global Depositary Shares (GDSs). The filing shows direct holdings of 755,465 GDSs and an additional 55,000 GDSs held indirectly through a Stock Purchase Plan for directors.
Each GDS carries a financial interest in and limited voting rights over five CPOs, which themselves represent different series of Televisa shares. For the Stock Purchase Plan position, a trust acting on his behalf will, at vesting, sell some GDSs or related CPOs to pay a price of Ps.8.00 per GDS, using an exchange rate of 17.9437 Mexican pesos per U.S. dollar, and deliver the remaining GDSs to him.
GRUPO TELEVISA, S.A.B. director Michael T. Fries filed an initial Form 3 reporting his holdings of the company’s CPOs. He reports 605,275 CPOs held directly and an additional position through a director Stock Purchase Plan.
The Stock Purchase Plan position covers 277,500 underlying CPOs with an exercise price of $0.0900 per CPO. A trust that administers the plan will sell part of these CPOs at vesting to pay the plan price of Ps.1.60 per CPO, delivering the remaining CPOs to him.
Grupo Televisa reported 2025 Telecom revenues of Ps.58,878.2 million, down 5.4% from Ps.62,260.9 million in 2024, mainly from a 17.5% drop in Satellite revenue. Despite this, operating income swung to a Ps.4,224.9 million profit from a Ps.2,818.9 million loss as margins improved and other expense fell sharply.
Net loss attributable to stockholders increased to Ps.8,819.6 million from Ps.8,265.5 million, driven largely by Ps.7,926.4 million of income taxes, including major non-cash write-offs of deferred tax assets tied to capital losses and satellite operations. Net debt was Ps.49,115.2 million with total debt reduced to Ps.85,994.2 million from Ps.102,955.2 million.
Fourth-quarter 2025 Telecom revenues declined 4.5% year-on-year, but operating segment income rose 6.1% and the margin reached 40.9% helped by cost efficiencies. The Board approved suspending the dividend in 2026 while the company evaluates investment opportunities in the Mexican telecommunications sector, and it may consider a capital increase if needed.
BlackRock, Inc. has filed a Schedule 13G showing beneficial ownership of 134,408,681 shares of Grupo Televisa SAB common stock, representing 5.3% of the class as of 12/31/2025. BlackRock has sole voting and dispositive power over these shares, with no shared voting or dispositive authority.
The filing explains that the position is held by certain BlackRock business units in the ordinary course of business. BlackRock certifies that the shares were not acquired and are not held for the purpose of changing or influencing control of Grupo Televisa, and that no individual underlying investor holds more than five percent of the company’s outstanding common shares.
JPMorgan Chase & Co. filed a Schedule 13G reporting beneficial ownership of 140,932,031 Grupo Televisa, S.A.B. Certificados de Participacion Ordinarios (CPOs) / Global Depositary Shares, representing 5.5% of the class as of 12/31/2025.
JPMorgan reports sole power to vote and dispose of all these securities, with no shared voting or dispositive power. The filing identifies subsidiaries J.P. MORGAN SE, J.P. Morgan Securities PLC, and J.P. Morgan Securities LLC as the relevant entities. JPMorgan certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Grupo Televisa.
Grupo Televisa, S.A.B. reports that its key executives Emilio Azcárraga Jean, Bernardo Gómez Martínez and Alfonso de Angoitia Noriega entered into an agreement for a significant internal share transfer. Under this agreement, Mr. Gómez and Mr. de Angoitia agreed to purchase, in equal parts, a minority stake in the Company consisting of 26,332,332,804 Series “A” shares from Mr. Azcárraga. The completion of this transaction is not yet final and is subject to customary conditions precedent, including authorization by the Mexican Antitrust Commission (Comisión Nacional Antimonopolio).
Televisa describes itself as a major telecommunications group in Mexico, operating one of the country’s most important cable companies and the Sky direct-to-home satellite pay television and broadband platform. It also holds government concessions to broadcast programming for TelevisaUnivision signals and remains the largest shareholder of TelevisaUnivision, which distributes Spanish-language content in Mexico, the United States and over 50 countries.